PETERBOROUGH, NH, Nov. 17, 2014 -- On Monday, Nov. 17, Borrego Solar Systems Inc., a designer, developer, installer, and financier of grid-tied solar photovoltaic systems, and the town of Peterborough, N.H., announced the start of construction of a 944-kilowatt (kW) solar system -- the largest in the state -- on nearly five acres of former wastewater lagoons on the site of the town's wastewater treatment plant. With this project, Peterborough will save between $12,000 and $25,000 per year in energy costs, or nearly $250,000 to $500,000 over the term of the agreement.
Peterborough received a $1.2-million grant from the New Hampshire Public Utilities Commission and a 20-year power purchase agreement (PPA) with Water Street Solar 1 LLC, a subsidiary of Borrego Solar. The grant and PPA have enabled the town to install the system at no up-front cost. A PPA is a contract that transfers the cost of the installation and maintenance to a third party, which then sells the energy back to the town at a fixed and economical rate.
About 60 percent of the approximate 1.2 million kWs generated annually will go to powering the plant, and the remaining 40 percent will power the town community center and other local facilities. The ability to apply a portion of the energy is possible through virtual net metering, approved by New Hampshire legislators in July 2013, enabling system off-takers to apply energy generated at one of their sites to another one of their meters. In Peterborough's case, the solar array will return energy to Public Service of New Hampshire, which will then resupply the energy to the town without charging it distribution or transmission fees.
"Peterborough is the largest project to utilize virtual net metering in New Hampshire -- a signal of what is to come in solar energy distribution," said Mike Hall, CEO of Borrego Solar. "By enabling municipalities to install solar on the most ideal site or where energy is needed most, and then applying that energy to other sites, allows for an even greater number of communities to take advantage of solar. Expanding opportunities for municipalities and businesses to go solar is key to reducing our dependence on non-renewable energy sources."
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About Borrego Solar
Established in 1980, Borrego Solar Systems is one of the nation's leading financiers, designers, developers and installers of commercial and utility solar power systems. Borrego's photovoltaic systems are efficient, reliable and cost-effective. With more than three decades of experience and more than 1,000 solar power installations completed -- totaling over 150 MW -- the company offers a complete line of solar system design and installation services throughout North America. Borrego was recently ranked as the #2 commercial EPC in the U.S. and the #2 commercial contractor in California by Solar Power World. For more information, visit www.borregosolar.com.
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